MIRA
INFORM REPORT
|
Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
GEODESIC LIMITED (w.e.f 19.09.2008) |
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Formerly Known
As : |
GEODESIC INFORMATION SYSTEMS LTD |
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Registered
Office : |
B-3, Lunic Industries, Cross Road NO.B, MIDC, Andheri (East), Mumbai –
400093, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.07.1982 |
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Com. Reg. No.: |
11-027751 |
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Paid-up Capital
: |
Rs.180.283 Millions |
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CIN No.: [Company Identification
No.] |
L65990MH1982PLC027751 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG06243G |
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PAN No.: [Permanent Account No.] |
AAACB6163A |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Software Development, Consultancy and On-Line Trading |
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No. of Employees
: |
Worldwide More than 700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 39000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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|
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office / Corporate Office
: |
B-3, Lunic Industries, Cross Road NO.B, MIDC, Andheri (East), Mumbai –
400093, |
|
Tel. No.: |
91-22-28306804 |
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Fax No.: |
91-22-28200832 |
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E-Mail : |
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Website : |
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Factory and Warehouse : |
Khasra No. 1118,
Salempur Industrial Area, Rajputan Pargana, Nar Radhaswami Satsang Bahavan,
Roorkee. District Haridwar 247667, |
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Branches : |
New No. 2/513
(Old 3/396), |
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National Offices 1 : |
K.C. House, 2nd Floor, CTS No. 15, Central Road, MIDC, Andheri
(East), Mumbai – 400 093, Maharashtra, India |
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National Offices 2 : |
Unit No.51, SDF-II,
Seepz Sez, MIDC, Andheri East, Mumbai – 400096, |
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National Offices 3 : |
Santogen House,
Plot No. A/69, 1st Floor, MIDC, Behind Tunga International Hotel, Andheri
East, Mumbai – 400093, |
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National Offices 4 : |
18, 10th Cross,
Mayura Street, Papanna Layout, Outer Ring Road, Bangalore - 560094. |
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National Offices 5 : |
19B, MLA Colony,
Road No. 12, Banjara Hills Hyderabad-500034, |
DIRECTORS
As On 31.03.2011
|
Name : |
Mr. Pankaj Kumar |
|
Designation : |
Chairman |
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Name : |
Mr. Kiran Kulkarni |
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Designation : |
Managing Director |
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Name : |
Mr. Prashant Mulekar |
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Designation : |
Executive Director |
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Name : |
Mr. Vinod Sethi |
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Designation : |
Non Executive and Independent Director |
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Name : |
Mr. Nitin Potdar |
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Designation : |
Non Executive and Independent Director |
KEY EXECUTIVES
|
Name : |
Ms. Swati Gupta |
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Designation : |
Company Secretary and Vice President |
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Name : |
Mr. Girish Borkar |
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Designation : |
Chief Accounts
Officer |
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Name : |
Mr. Sanjay Sarkar |
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Designation : |
Chief Design
Officer |
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Name : |
Mr. Farhan Ashhar |
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Designation : |
Chief Technology
Officer |
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Name : |
Mr. Jitendra Loyal |
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Designation : |
Head - Product
Engineering |
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Name : |
Mr. Arvind Venkateswaran |
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Designation : |
Senior VP
(Business Development) and General Manager (US Operations) |
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Name : |
Dr P R Subramanya |
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Designation : |
Vice President –
Technology (GeoAmida) |
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Name : |
Mr. Anirudh Moudgal |
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Designation : |
Vice President –
Design |
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Name : |
Mr. Deepak Shenoy |
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Designation : |
Vice President –
Operations |
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Name : |
Mr. Arnab Ganguly |
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Designation : |
Business
Development and Sales (GeoAmida) |
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Name : |
D Phaneendra Kumar |
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Designation : |
Associate Vice
President – New Technologies |
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Name : |
Ms. Navita Sharma |
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Designation : |
Head - Corporate
Communications |
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Name : |
Mr. Tim Bruce |
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Designation : |
Director -
Geodesic Hong Kong Limited |
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Name : |
Mr. Vishal Mainkar |
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Designation : |
Vice President -
Business Development and Sales |
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Name : |
Mr. Sarraju Narasinga Rao |
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Designation : |
Chief Products
Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 31.03.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
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|
|
|
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|
22630765 |
25.11 |
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|
22630765 |
25.11 |
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Total shareholding of Promoter and Promoter Group (A) |
22630765 |
25.11 |
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(B) Public Shareholding |
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|
96870 |
0.11 |
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|
158368 |
0.18 |
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|
577835 |
0.64 |
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|
29792730 |
33.05 |
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|
30625803 |
33.98 |
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|
8161886 |
9.05 |
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|
17746314 |
19.69 |
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|
8530843 |
9.46 |
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|
2445738 |
2.71 |
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|
639809 |
0.71 |
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|
30355 |
0.03 |
|
|
118078 |
0.13 |
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|
1652296 |
1.83 |
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|
5200 |
0.01 |
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|
36884781 |
40.92 |
|
Total Public shareholding (B) |
67510584 |
74.89 |
|
Total (A)+(B) |
90141349 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
-- |
-- |
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|
-- |
-- |
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|
-- |
-- |
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-- |
-- |
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Total (A)+(B)+(C) |
90141349 |
-- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 millionBUSINESS DETAILS
|
Line of Business : |
Software Development, Consultancy and On-Line Trading |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Worldwide More than 700 (Approximately) |
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Bankers : |
PRINCIPAL
BANKERS
FOREIGN BANKS
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Borkar and Muzumdar Chartered Accountant |
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Associates : |
Republique Media
Private Limited B-3 Lunic Industries, Opp. State Bank of India, Cross Road ‘B’, MIDC, Andheri East, Mumbai - 400 093, Maharashtra, India. Tel: 91-22-28306804 Fax:
91-22-28200832 |
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Subsidiaries : |
DOMESTIC
SUBSIDIARIES
B-3 Lunic
Industries, Opp. State Bank of India, Cross Road ‘B’, MIDC, Andheri East,
Mumbai - 400 093. Maharashtra, India. Tel: +91-22-28306804 Fax: +91-22-28200832 Url: www.chandamama.com
B-3 Lunic
Industries, Opp. State Bank of India, Cross Road ‘B’, MIDC, Andheri East,
Mumbai - 400 093. Maharashtra, India. Tel: +91-22-28306804 Fax: +91-22-28200832
B-3 Lunic
Industries, Opp. State Bank of India,
Cross Road ‘B’, MIDC, Andheri East,
Mumbai - 400 093. Maharashtra, India. Tel: +91-22-28306804 Fax: +91-22-28200832 INTERNATIONAL
SUBSIDIARIES
C/o: Premier
Financial Services Limited, Suite 612, 6th Floor, St. James Court, St.Denis Street,
Port Louis, Mauritius.
7/F, Man On
Commercial Building, 12-13, Jubilee Street, Central, Hong Kong.
Formerly Engage Solutions
Limited (Subsidiary of Geodesic Holdings Limited) 3/F, Well View
Commercial Building, New No.10,(Old No. 8-12) Morrison Street, Sheung Wan, Hong
Kong.
(Subsidiary of
Geodesic Holdings Limited) 19925 Stevens
Creek Boulevard, Cupertino, CA 95014. USA .
(Subsidiary of
Geodesic Holdings Limited) Akara Building
24 De Castro Street, Wickhams Cay 1, Road Town, Tortola, British Virgin
Islands.
(Subsidiary of
Interactive Networks International Inc) Rio Negro, 1320,
Montevideo, CP 11100, Uruguay.
(Subsidiary of
Geodesic Holdings Limited) 53rd E Street,
MMG Tower, Urbanizacion Marbella, 16th Floor, Panama City, Panama.
(Subsidiary of
Geodesic Holdings Limited) E – LOB Office
No., P.O. Box 51810 Hamriyah Free Zone
– Shj United Arab Emirates
(Subsidiary of
Geodesic Holdings Limited) Trident Trust Company
(BVI) Limited, Trident Chambers, P.O. Box 146, Road Town, Tortola, British
Virgin Island
(Subsidiary of
Geodesic Holdings Limited) 138, Robinson
Road # 17-00, The Corporate Office, Singapore - 068906. |
CAPITAL STRUCTURE
As On 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs. 2/- each |
Rs. 300.000 Millions |
|
5000000 |
Preference Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
Total |
|
Rs. 350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90141349 |
Equity Shares |
Rs. 2/- each |
Rs.180.283
Millions |
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|
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|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
180.280 |
184.488 |
184.430 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9512.930 |
7519.122 |
5956.326 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9693.210 |
7703.610 |
6140.756 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.760 |
0.140 |
0.433 |
|
|
2] Unsecured Loans |
6139.920 |
5869.159 |
6409.272 |
|
|
TOTAL BORROWING |
6140.680 |
5869.299 |
6409.705 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
2.196 |
|
|
|
|
|
|
|
|
TOTAL |
15833.890 |
13572.909 |
12552.657 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1044.050 |
598.600 |
628.571 |
|
|
Capital work-in-progress |
288.630 |
849.391 |
739.439 |
|
|
|
|
|
|
|
|
INVESTMENT |
8709.650 |
5139.982 |
4269.380 |
|
|
DEFERREX TAX ASSETS |
0.000 |
16.958 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
102.710
|
38.373
|
0.124 |
|
|
Sundry Debtors |
3543.110
|
3550.474
|
3192.512 |
|
|
Cash & Bank Balances |
1725.300
|
1926.068
|
2806.524 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
3692.360
|
1988.134
|
1544.501 |
|
|
Share Application towards allotment of equity shares |
0.000
|
303.015
|
302.706 |
|
Total
Current Assets |
9063.480
|
7806.064
|
7846.367 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2816.823
|
474.500
|
502.368 |
|
|
Other Current Liabilities |
43.777
|
16.306
|
113.939 |
|
|
Provisions |
462.210
|
426.639
|
428.306 |
|
Total
Current Liabilities |
3322.810
|
917.445
|
1044.613 |
|
|
Net Current Assets |
5740.670
|
6888.620
|
6801.754 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
50.890 |
79.358 |
113.513 |
|
|
|
|
|
|
|
|
TOTAL |
15833.890 |
13572.909 |
12552.657 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6714.308 |
4872.674 |
4937.929 |
|
|
|
Other Income |
14.209 |
157.564 |
143.298 |
|
|
|
TOTAL (A) |
6728.517 |
5030.238 |
5081.227 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operational expenses |
3211.123 |
1968.090 |
1933.528 |
|
|
|
Employees costs |
245.801 |
190.060 |
161.616 |
|
|
|
Other administrative expenses |
267.286 |
360.450 |
282.279 |
|
|
|
Miscellaneous expenditure written off |
28.467 |
34.254 |
34.192 |
|
|
|
Increase in stock of finished goods |
(1.813) |
(2.105) |
0.000 |
|
|
|
Exceptional Income |
0.000 |
(79.797) |
(236.094) |
|
|
|
Prior period income/Expenditure |
(0.673) |
(0.110) |
95.211 |
|
|
|
Prior period taxation |
0.000 |
9.316 |
3.437 |
|
|
|
TOTAL (B) |
3750.191 |
2480.158 |
2274.169 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2978.326 |
2550.080 |
2807.058 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
375.276 |
372.094 |
403.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2603.050 |
2177.986 |
2403.608 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
226.533 |
448.086 |
314.683 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2376.517 |
1729.900 |
2088.925 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
30.248 |
(18.930) |
174.820 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2346.269 |
1748.830 |
1914.105 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5300.544 |
3915.043 |
2365.083 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend
paid |
121.691 |
69.183 |
73.772 |
|
|
|
Corporate Tax on
Interim Dividend |
0.000 |
11.758 |
12.537 |
|
|
|
Excess provision
made for tax on Final Dividend FY 2009-10 |
(0.145) |
0.000 |
0.000 |
|
|
|
Short Provision
made for Final Dividend FY 2007-08 |
0.000 |
0.000 |
0.021 |
|
|
|
Short Provision
made for tax on Final Dividend FY 2007-08 |
0.000 |
0.000 |
0.002 |
|
|
|
Proposed Equity
Dividend |
126.198 |
92.244 |
73.772 |
|
|
|
Tax on Proposed
Equity Dividend |
0.000 |
15.246 |
12.537 |
|
|
|
Transfer to General
Reserve |
234.627 |
174.890 |
191.504 |
|
|
BALANCE CARRIED
TO THE B/S |
7164.442 |
5300.552 |
3915.043 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
25.77 |
18.96 |
20.76 |
|
|
|
- Diluted |
25.67 |
18.86 |
20.72 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 1st
Quarter |
30.09.2011 2nd
Quarter |
31.12.2011 3rd
Quarter |
31.03.2012 4th
Quarter |
|
Net Sales |
1867.410 |
1816.940 |
1778.480 |
1711.9400 |
|
Total Expenditure |
1059.060 |
1123.200 |
1260.810 |
1257.580 |
|
PBIDT (Excl OI) |
808.350 |
693.740 |
517.670 |
454.360 |
|
Other Income |
68.740 |
44.450 |
181.600 |
322.570 |
|
Operating Profit |
877.090 |
738.190 |
699.270 |
776.930 |
|
Interest |
100.050 |
106.970 |
115.140 |
125.250 |
|
PBDT |
777.040 |
631.220 |
584.120 |
651.680 |
|
Depreciation |
82.840 |
158.130 |
78.490 |
271.740 |
|
Profit Before Tax |
694.200 |
473.090 |
505.640 |
379.940 |
|
Tax |
156.770 |
95.000 |
101.200 |
76.000 |
|
Profit After Tax |
537.430 |
378.090 |
404.440 |
303.940 |
|
Prior Period Expenses |
0.000 |
(0.020) |
0.000 |
0.000 |
|
Net Profit |
537.430 |
378.070 |
404.440 |
303.940 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
34.87
|
34.77
|
37.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
35.39
|
35.50
|
42.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.51
|
20.58
|
24.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.22
|
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.98
|
0.88
|
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.73
|
8.51
|
7.51 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
No |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
No |
REVIEW OF OPERATIONS:
During the year
2010-2011, the Company’s volumes have improved across businesses as the global
economy stabilised. Consumer confidence has returned in many of the markets, albeit
cautiously. During this year, the Company’s focus on the fundamentals of cost
control, launch of new products, cash optimisation and return on capital, has
resulted in excellent organic profit growth and a stronger balance sheet.
The directors take
this opportunity to state that the Company is currently doing excellent
progress in creating and designing new products and solutions, and increasing
its business base. The Company has grossed revenues of Rs.8879.000 millions in
FY 2011, an increase of 37% over Rs.6500.0000 million for fiscal 2010. The
Company’s net earnings grossed Rs.2737.000 million in FY 2011, an increase of
22% over Rs.2237.000 million for fiscal 2010.
PRODUCT LAUNCHES
The Company has expanded
its Electronic Computing division to include Automated Cluster Utility Meter
Reading to ensure profitability and prevention of loss of energy to utility
companies. ENLYTE – the education device has passed rounds of alpha
testing and has entered the crucial phase of beta testing.
The Company has
been working on Cloud Computing and has been successful in migrating audio and
video to the cloud. During the next fiscal, the Company plans to migrate its
Communication, Collaboration, Content Analytics and CRM to the cloud to ensure
tremendous cost savings to enterprises and the SME market.
The Company’s
foray into Cluster Management has opened new avenues. It has incorporated Geodesic
Gridpoint Energy Private Limited and has launched Automated Cluster Management
System to automate energy / utility meter reading and improve operating
efficiency for power and utility companies around the globe.
Diversifying
further, the Company has made a foray into the field of mobile and online
gaming. It launched Carrom MP – an exciting multiplayer board game app
for the Apple iPad.
The Company has
launched a cloud based version of Mundu Wallet. A tool primarily
targeted at the evergrowing BFSI and Investment Broking Houses, it is a
Personal Portfolio Management application coupled with analytics and
personalized content. Users can access Mundu Wallet across multiple devices.
Spokn VMS – a unique Voice
Messaging Service has been launched. It lets Spokn users in 32 countries send a
voice message through a call to any phone in the world and get a reply through
the same call. Spokn VMS has been reoriented to cater to the huge Facebook
community.
During the fiscal
FY11, the Company has upgraded Continuum – an enterprise wide
comprehensive Unified Communication,
Collaboration, CRM and Content Analytics
suite, by adding a powerful Contact Management System and the next generation
of social CRM (CRM 2.0) as part of the
offering.
During FY11, the
Company has expanded its operations in South America, Middle East and African
markets. It has added various clients across all segments including Entel PCS,
America Movil, BrightStar Corp. Some of the other deals include: Big TinCan
Limited, OpenPeak Inc., Universal Microelectronics Co. Ltd. (UMEC), Airtel,
Qualcomm, besides several Banks, Financial Services companies, and large
corporations.
GeoAmida solutions
have found a mark outside India for remote Healthcare, Financial Inclusion and
Micro Finance segments. Its solutions have been piloted and deployed in
Ethiopia, Kenya, Lagos, Spain and El Salvadore.
AWARDS
·
Mundu TV was ranked the # 1 Entertainment
Application on the Apple App Store in the entertainment category and was ranked
#2 across all categories on the Apple App Store. Mundu TV was ranked the number
one application in NDTV’S ‘10 Apps for every Indian’.
·
Computer
Active ranked Mundu IM Pro as The Best IM for iPhone.
·
Business
Standard listed Mundu Radio amongst the top 10 Internet radio stations.
·
The
Company was ranked amongst Deloitte Technology Fast 50 India 2010 Program and
Fast 500 Asia Pacific 2010 Program.
·
The
Company was ranked amongst Data Quest TOP 200 Companies of the Indian IT
Industry.
·
GeoAmida
won the NASSCOM India Leadership Forum 2010.
·
GeoAmida
project was nominated for the PC Quest Best IT Implementations in the field of
Mobility and Field Force Automation
Projects.
The Company
believes in setting realistic goals and executing plans in a meticulous manner.
It is this outlook coupled with the innumerable efforts that the Company has
taken to go beyond conventional ways that has enabled it to achieve its
objectives.
True to its name –
Geodesic – where triangles add to the sphere, distributing the stress across the
structure, making it strong – the more the Company diversifies, the more it
progresses, adding various companies to its mother brand, the more solid and
strong it becomes.
INDIAN
SUBSIDIARIES
The company has
been supporting innovative ideas all across, whether they are developed
internally within the company or by supporting and acquiring innovative
companies. The Company has always been aware of its social responsibilities and
engages its resources and manpower to promote all technological innovations
that make life simpler, faster and cost effective across web, desktop and
mobile platforms. At the same time, they work towards preserving the cultural
heritage of India as is evident from magazines published by their subsidiary –
Chandamama. Innovation is crux of Geodesic’s business and each of Geodesic
subsidiaries portray the same in their diversified businesses. From digitizing
the contents of childrens’ magazine and converting them to the virtual world
content to communicating and collaboration over internet mediums; From CRM to
collaborating and aggregating entertainment content; From Mundu TV to
anti-piracy software; From remote computing transaction platforms to energy
saving products; each business of the Company’s subsidiaries speaks for itself.
CHANDAMAMA
Chandamama is one
of the best-known monthly children’s magazine since 1947. It was taken over by
the Company in 2007 and since then the revamping of the magazine has taken
place in terms of language, presentation, artwork, and content. New books and
characters have been added to the library and lots of effort have gone to make
these data available on virtual medium to keep pace with changing needs of the
time. The ways of entertainment and education have changed over the years and
Chandamama has been trying to keep up with the changing environment and
incarnating its new avatar to suit today’s readers. This is why Chandamama has
successfully launched its English as well as regional version of its magazines
on the net and on itunes which can be downloaded on iPhones and ipads. The Chandamama app on Apple App
Store, clocked more than 3000 downloads
within 3 weeks of its launch in the end of July. The growing popularity in
terms of the increasing number of downloads and paid subscriptions, the app is
in process of being developed on various platforms as well. Soon the
Chandamama app is expected to be
available on the Android app store.
Chandamama website
is now available in 7 different languages and would support various other
languages in future. Chandamama’s management is also planning to launch
Chandamama comics and audio stories on the internet and mobile platform in near
future. Plans are up to bring the various characters of Chandamama to life in
the form of animation series, movies, on TV and mobile. Chandamama is also
planning to enter the world of 3D animations in print and other media. The
Company is of the opinion that the pace at which Chandamama is growing, it will
soon touch new heights.
FilmOrbit.Com
FilmOrbit.Com
India Private Limited is into Bollywood content space which enables the
consumers to enjoy access to a range of websites, social apps, mobile apps,
widgets and services that bring fun and relevant experiences to the screen of
their choice. During powers a unique content discovery, engagement and
consumption experience around films. The website has received critical acclaim
from a core group of users, and has served up over 1 million page views since
launch. The site has proven to be a high-engagement site, with users spending
an average of 10 mins on the site (compared to much lower numbers on the
competing sites). The Company is now in the process of executing the public
launch of the website.
Filmorbit became a
subsidiary of the Company as a result of allotment of 3,15,000 equity shares to
the company. The Company now holds 88% of equity shares of Filmorbit. During
the year, the Company increased its Authorised Capital from Rs.2.000 Millions
to Rs.7.500 Millions which was approved by the shareholders in their extra
ordinary general meeting held on 13th January, 2011.
GEODESIC GRIDPOINT
Geodesic Gridpoint
Energy Private Limited was incorporated with a view to develop and promote technology related to energy and measuring
and monitoring energy usage and efficiency. The Company is exploring opportunities
to utilize the talent and research of this company and help in providing
complete solution to aid energy right from generation to distribution and
minimizing losses. The company is also exploring opportunities in production of
non conventional sources of energy and other means, so as to enable overall
development in the country.
During the year,
the authorised capital of the Company was increased from Rs.2.500 Millions to
Rs.5.000 Millions by the shareholders in their extra ordinary general meeting
held on 10th January, 2011. The Company allotted 1,96,000 Equity Shares to
Geodesic Limited on 15th February, 2011. Accordingly, the shareholding of the
Company in Geodesic Gridpoint Energy Private Limited increased to 2,45,999
Equity Shares.
FOREIGN
SUBSIDIARIES
Over the years,
the Company has diversified its operation in the International Market through
mergers, acquisitions, opening of branch offices, etc. The Company has 8 step
down subsidiaries including Geodesic Information Systems Inc, USA, Geodesic
HongKong Limited, HongKong, Interactive Network International, British Virgin
Islands, Publicidad Digital SA, Uruguay, Zomo Technologies Limited, British
Virgin Islands, Spokn Communications Pte. Limited, Singapore, Geodesic
Technology FZE, Dubai, Emiloto Associated Inc., Panama.
2 Companies were
added to the Geodesic family during the year namely Spokn Communications Pte.
Limited, Singapore and Zomo Technologies Limited, British Virgin Islands.
SPOKN
COMMUNICATION PTE. LIMITED
Spokn Communication
Pte. Limited, Singapore is the most comprehensive service internet telephony
service to date with a host of
breakthrough features that will change the way voice communications is used
forever. Spokn is a new generation service that is a true bridge between
traditional Public Switched Telephone Network (PSTN) and Voice over Internet
Protocol (VoIP) services. Spokn frees internet telephony from the tyranny of
the computer giving users the benefit of inexpensive internet calling rates on
a wide variety of devices – mobile phones, smart phones, regular land lines in
addition to computers. The Spokn users can receive incoming calls on any or all
of these devices simultaneously, keeping Spokn users in touch whether they are
online or not.
The Directors
strongly believe that Spokn has the potential to redefine the way voice
communications and internet synergize. Spokn completes Geodesic’s suite of
communication services adding Voice to the current portfolio of email, Internet
Messaging(IM) and SMS offerings keeping Geodesic in the forefront of
communications providers.
ZOMO TECHNOLOGIES
LIMITED
Zomo Technologies
Limited was incorporated in British Virgin Islands. It serves as an investment
arm for the company in the area and helps in identifying prospective technology
companies that will help synergy with the company’s business.
ASSOCIATE COMPANY
REPUBLIQUE MEDIA PRIVATE LIMITED
Republique Media
Private Limited, an associate company of Filmorbit.com India Private Limited, is
India’s ONE stop for Online Anti-Piracy Solutions for Films, Television and
other Content dissemination channels. It has affiliation with over 10 Indian
Production houses and has recently commenced operations in South India.
The solutions
offered by Republique Media Private Limited are highly scalable and counter all
technologies used by internet pirates including Blogs, Websites, Cyberlockers, Link Sites, Social Forums, Newsgroups
and all major P2P Networks.
The successful
projects for controlling Online Piracy for many films includes Housefull,
Rajneeti, Raavan, Once Upon A
Time In Mumbaai, Dabangg, Rakht Charitra, Golamaal 3, Dhobi Ghat, Pyaar Ka
Punchnama, Shaitan, Chillar Party. Republique
Media Private Limited also has exclusive partnerships with the world best in
Anti-Piracy; DtecNet which is used by the MPAA, RIAA, IFPI and the BSA to fight
piracy. Republique Media delivers services that their vastly superior in Scale,
Accuracy and Effectiveness and is capable of eliminating up to 90% of Online
Piracy.
ITM DIGITAL
PRIVATE LIMITED
ITM Digital
Private Limited was incorporated as a Joint Venture Company between ZEE
Entertainment Enterprises Limited and Geodesic Limited to offer applications
for delivery of content to mobile and Internet devices through Mundu TV. This
company was to address the hugely growing market for multimedia content
convergence across Internet, Television and Mobile phones. Due to change of
views and methodologies of functioning, the JV agreement was mutually
terminated. Also, the Company’s holdings in ITM Digital Private Limited was
transferred to ZEEL as a mark of Separation.
MANAGEMENT DISCUSSION AND ANALYSIS
OVERVIEW
They are a
technology company focused on delivering solutions in the space of
Communication, Content Management, Collaboration and Customer Relationship
Management to the enterprise and retail segments. Their innovative products and
services, emphasis on substantial cost reductions, and enhanced productivity
for the enterprise and retail segments, have led us to improve their earnings
and revenues, besides win several global awards. Their mobile products are used
by millions of people around 108 countries at the last count.
They introduced
GeoAmida - a last mile connectivity and data processing handheld device - to
focus on the growing E-governance and Financial applications for India and
other developing nations. GeoAmida has mainstreamed 8% of India’s rural
population so far and aspires to double it during this year.
Their mission is
to make Content, Communication and Collaboration accessible and truly
affordable across networks. This in turn will enhance productivity and
efficiency. They address the following primary segments:
Enterprise: They provide
Enterprises with their Unified Communication and Collaboration stack, the CRM
module and Content Management System. These modules help Enterprises in
reducing their communication costs, enhancing their productivity through
collaboration, and reducing their sales cycle through better content analytics
/ management and a potheyrful CRM.
Telecom Operators
and Handset Manufacturers: They have a deep product line that easily adds
value to Telcos and Handset Vendors who solely rely on value added services and
features they provide to their consumers. They pre-bundle their applications on
the handsets and are part of the VAS offerings by the Telecom Operators.
Retail Consumers: They provide
mobile consumers with products in the space of communication including Mundu
IM, Mundu Universal Messenger, Spokn and Mundu SMS. They offer streaming, live
and on-demand content to users through Mundu Radio and Mundu TV. All their
applications are available across multiple platforms including iOS, Android,
Blackberry, Symbian, Java and on Windows and MacOS desktops. In the last quarter,
they launched Carrom MP – a game based on physics for the iPad.
System Integrators
and Value Added Resellers: They recognize this as an extremely important
segment. They integrate almost all of their products with their products and
solutions and reach out to customers not easily accessible by them.
Government and
Financial Institutions: They provide their GeoAmida (hand-held device)
based solutions to this segment and on offer are the following solutions: Mahatma
Gandhi Rural Employment Guarantee Act, Law
Enforcement, Public Distribution Systems, Financial Inclusion and Remote
Health Management.
They now have 14
offices worldwide and over 700 employees. While they have invested
substantially in innovation and growth, they have managed to extend their
competitive advantage, fortified their leadership and retained their work culture.
During this
fiscal, they forayed into the lucrative Cluster Management, Cloud Computing,
Online Utility Payment solutions and Online / Mobile Gaming. Looking back, it
has been a year filled with innovation, new solutions and expansion.
WHAT THEY OFFER
Over the years
they have understood how valuable their commitment to innovation has been in
the growth of the company. It is clearly visible in the range of products they
have developed, and in the milestones they have achieved in a short time.
Flexible and
scalable, their products and solutions address both the retail and the
enterprise segments. This flexibility has helped us reorient their products to
address a diverse market and build meaningful partnerships with Telecom Network
Operators, Internet Service Providers and Handset Vendors across countries.
They believe
simple, effective and cost-controlled communication is the key to building
stronger, long-lasting relationships, personally and professionally. Catering
to various predominant business categories, they offer the end user (retail and
enterprise) innovative and user-friendly
products and services that best suit their needs.
THEIR BOUQUET OF PRODUCTS AND SERVICES:
ENTERPRISE
Their Enterprise
products have been designed for desktop and mobile platforms that include
Continuum, Spyder and .fn suite of products.
Continuum – the Unified
Communication and Collaboration solution delivers real-time communication and
collaboration services across a powerful contact management module unifying
user experience while leveraging an enterprise’s existing IT and telephony
infrastructure.
Spyder – an advanced Client
Relationship Alignment Management System for the complex needs of a financial
institution, it is an ideal solution for Fund Management and Investment
Banking.
Financial Portal
Framework – is a financial suite of products that provides seamless analytical
interfaces between financial service providers and their everdemanding customer
base.
Wallet Wap – is the key to
anytime / anywhere delivery of personalized market and investment information.
The fastest, most direct channel to keep clients informed about the latest happenings
in the markets, it is compatible with all mobile devices.
Wealth Console – is an
enterprise-ready, client-server solution that improves communication between
Financial Wealth Managers and their clients.
RETAIL
They have reasons to
believe that the mobile screen is the first and only screen for millions of
consumers globally. Their retail products mostly cater to mobile phone
subscribers and they also bundle them in desktop versions as an add-on
offering. They recently made their foray into the lucrative mobile gaming
segment and topped the charts on the Apple App Store for the iPad in India and
Saudi Arabia, amongst others. Their offerings are predominantly classified into
three categories – Communication, Content Streaming (live/ on-demand) and
Management, and Gaming.
COMMUNICATION
Mundu IM: A messenger that
unifies different messaging services (AIM, Facebook, Gtalk, ICQ, Jabber, MSN
and Yahoo) in an easy-to-use single interface on almost all mobile platforms.
Mundu SMS: A global service
that allows mobile users to send text messages using the Internet on their
mobile phones, to connect with their contacts at a fraction of the cost
incurred by mobile users on their GSM / CDMA networks. Mundu SMS retains the
regular SMS usability and user perception.
Spokn: A worldwide
telecom service that enables people to make phone calls or send short Voice
Messages (VMS) easily and cost-effectively using their computers,
internet-enabled smart phones or even regular phones.
CONTENT MANAGEMENT AND DELIVERY
Mundu TV: a Live-Internet TV
service that offers its subscribers the opportunity to view 20+ Live TV
channels and archived content using wireless and broadband internet on mobile
phones and desktops.
Mundu Radio: An Internet radio
solution that offers high quality
digital audio on mobile handsets and desktops. The solution allows mobile and
desktop users to choose music genres of their choice from thousands of
genrebased Internet radio stations.
MOBILE GAMING
Carrom MP: An intriguing
strategic board game which is fully compliant with the laws of physics, for the
iPad.
ELECTRONIC COMPUTING
Expanding their
business further, they have included variants of GeoAmida to suit solutions in
the areas of Law Enforcement, Rural Employment Guarantee Act, Public
Distribution Systems, Financial Inclusion, Micro Finance, Healthcare, and as a
ERP device.
GeoAmida: The world’s first
integrated mobile computer based on Linux. GeoAmida includes biometric sensors and
smart card readers/writers. It is a multi-lingual, real-time computing and
transaction system with an integrated text to speech facility.
BUSINESS MODEL
Geodesic addresses
a diverse market segment and they have been successful in adopting unique business
models for each of their market segments. They include license and support fee,
usage fee, and revenue share and subscriptions. These business models are built
to help their clients succeed in delivering business value to their
enterprises.
Their business
models are resilient, adapting to the continuously changing market and economic
environment. They continue to divest businesses and strengthen their position
through strategic organic investments and acquisitions.
Their business
models, supported by their long-term financial model, have enabled us to
deliver strong earnings consistently, cash flows, and returns to shareholders
in changing economic environments.
REVENUE GENERATION
They derive most
of their revenues from Enterprise customers for their CARM, Communication,
Collaboration solutions; pre-bundling of their Mobile Applications on Handsets,
Telecom Operators, Retail Consumers; Government agencies, System Integrators
and Financial Institutions for GeoAmida. The rest is derived from software services,
.fn solutions, their subsidiaries including Chandamama and treasury management.
ENTERPRISE:
They recognize the
sale of following products to the following segments as Enterprise Revenues:
Continuum – Unified
Communication, Collaboration, Content Analytics and CRM for the Enterprise
market, Portals, Financial Institutions, System Integrators and Value Added
Resellers. Continuum is a Unified Communication and
Collaboration
suite of products combining the capabilities of the enterprise communication
framework and sophisticated contact management into a single, powerful
solution. Unified communication is an important capability that offers a number
of benefits, including:
·
The
ability to integrate email, voice, text and instant messaging into a more
cohesive communication system than most organizations have available to them
today.
·
Faster
decision-making because all the data that users and organizations need is
available through any access point and users can communicate with others inside
and outside their organization easily and quickly.
·
Lower
overall IT and telecommunications costs, particularly for labour, because of
the inherent economies of scale available with an integrated communications
platform.
Continuum as a concept
and as a solution is more relevant to all enterprises as the number of remote
workers continues to grow over time. For example, a Gartner study found that
the number of workers who work from home at least one day per week will
increase at an average compounded rate of 4.4% through 2011. Remote workers are
simply more efficient if they have access to all of their communication tools
in a single, ITmanaged interface instead of tools that individuals select on
their own and cobble together with varying degrees of success and efficiency.
They have now
enhanced Continuum by adding enterprise wide social CRM elements and business
continuity tools to add more value to the product. These two modules will have
a market potential of almost 8% of the
CRM market of US$ 10 billion by 2012 as predicted by Gartner. They license the
Continuum technology to System Integrators, Enterprises, Value Added Resellers,
Portals and Financial Institutions.
They are now
focused on enterprises in the developing world as these products offer them
flexibility and align their resources with the needs of their customers. They
charge a recurring or a perpetual license fee. As part of the recurring license
fee, they charge enterprises a fee on a per user per month basis. Most of their
enterprise customers pay us usage fees (per user per quarter) and consumption
fees (per call minute / per text message).
They offer
enterprises both a hosted and an in-house system. The usage fee varies with
industries, volume of users and geographies.
Spyder – CRM for Financial
Institutions, Enterprises, System Integrators and Value Added Resellers. Spyder
is an advanced Client Relationship Alignment Management System for the complex
needs of a financial institution or enterprise that sells intellectual
product(s) manifesting as opinion (backed by research), market insight,
know-how and capability. Spyder incorporates specific concepts that transform
the system from being just a ‘useful client database’ to an essential tool that
helps identify and coordinate revenue opportunities, reduce operational costs
and manage distributed resources.
Gartner projects
worldwide Customer Relationship Management (CRM) software revenue to exceed US$
13.3 billion through 2012 and the biggest growth is expected out of the Asia
Pacific markets. They have focussed on the Asia Pacific markets at this time
and they are actively pursuing the strong SME segment in India. Spyder has been
successfully integrated within Continuum to ensure they are a unique offering
of Content Management, Unified Communication and Collaboration and CRM.
They charge a
recurring license fee on a per user per month basis to the enterprise. Most of
their enterprise customers pay us usage fees (per user per quarter) and
consumption fees (per call minute / per text message). They offer enterprises
both a hosted and an in-house system. The usage fee varies with the number of
enterprise users and geographies. Spyder and Continuum are clubbed into a
single revenue stream as they have a similar business model and are derived
from the same platform.
The enterprise
segment, during the fiscal FY11, generated 42% of their total revenues from the
above products.
Mundu and Spokn
applications to Telecom Operators, Handset Vendors, System Integrators and
Value Added Resellers.
Mundu and Spokn
applications are a stack of
communication and content management / delivery products that add
tremendous amount of value for Handset Vendors and Telecom Operators as part of
their handsets or Value Added Services. The Mundu suite of products comprises
of Communication and Content Management / Delivery solutions.
The Mundu
communication stack comprises of Mundu Interoperable Messenger, Mundu Universal
Messenger, Mundu SMS and Spokn Voice and Voice Messaging System.
Mundu IM / UM: A messenger that
unifies different messaging services (AIM, Facebook, Gtalk, ICQ, Jabber, MSN,
Yahoo and the contacts) in an easy-to-use single interface. Mundu IM/UM is
available on all mobile platforms including Symbian, iOS, Android, Blackberry
and Feature phones.
Mundu SMS: A global service
that allows mobile users to send text messages using the Internet on their
mobile phones and desktops to connect with their contacts at a fraction of the cost
incurred by mobile users on their GSM / CDMA networks. Mundu SMS retains the
regular SMS usability and user perception.
Spokn: A worldwide
telecom service based on the Internet that enables people to make phone calls
and send short Voice Messages (VMS) using their computers, internet-enabled
smart phones and PSTN phones. Spokn phone calls and voice messages are
economical by a margin of 70% over regular GSM / PSTN / CDMA calls.
Messaging is big
business globally and text messaging itself will be a US$ 9 billion market by
2012. Instant messaging, according to The Radicati Group, will have more than
3.5 billion accounts by 2012 and that gives us a distinct edge into the next
two years.
The Mundu Content
Management and Delivery platform comprises of:
Mundu Radio: A streaming and
on-demand Internet Radio that allows the consumer to tune into over 120,000 radio stations. Consumers can choose
a genre / album / song of their choice or simply discover music
serendipitously.
Mundu TV: A live streaming
and on-demand video application that
allows consumers to watch live TV and video-on-demand content on their mobile
phones and desktops. Live TV and on-demand video apart from great music, have
been touted as two of the most wanted applications in the 3G space.
They have entered
into arrangements with certain Content Providers under which they distribute or
license their audio / video and other content. In a number of these
arrangements, they pay content owners a share of the license / subscription fee
that they collect from their customers / partners. In some cases, they
guarantee their Content Providers a minimum revenue share or other payments.
They have a
360-degree approach to marketing these unique products. They align with Telecom
Operators and Handset Manufacturers to distribute their applications. Telecom
Operators and Handset Manufacturers rely on their subscribers for revenues
through their value added and feature rich services. Their Mundu / Spokn
products provide them with these services that enhance their reach. They have
so far signed agreements with more than 35 telecom network operators and 11
handset vendors to distribute Mundu and Spokn products worldwide.
They recognize
revenues through a combination of license fee, customization, subscription fees
and revenue sharing with the Telecom Networks and Handset Manufacturers. They
generally rely on per subscriber per month subscription fee from Telecom
Operators and charge a per phone license fee per handset for device
manufacturers. Their strategy of sharing revenues with Telecom Operators and
Handset Manufacturers has helped us build lasting associations with them. The
Telecom Operators and the Handset Manufacturers segments during the fiscal
FY11, generated 23% of their total revenues from the above products.
They retail the
above products to consumers world over using their websites and app stores
across multiple platforms. Their strategy to reach out to retail consumers
through Handset Manufacturers and Telecom Operators has led us to lower their user acquisition
cost.
They have been
successful in providing future proof, scalable and robust solutions in the
spaces of Text and Audio Messaging, Internet Radio and TV solutions to retail
consumers worldwide. They have signed agreements with content providers across
multiple languages including European, Chinese and Japanese languages to cater
to those markets.
Their Mundu stack
of products and Spokn are retailed across www.mundu.com
and www.spokn.com, respectively. They are also available on
multiple application stores including Nokia’s Ovi Store, Apple’s App Store,
Palm Store, Blackberry stores, etc. Mundu products have topped the charts on
the Apple App Store as well as the Nokia Ovi Store.
They have so far
consciously marketed Mundu TV as a direct-to consumer retail product and have
not aligned with any Telecom Operator yet. They had 2.5 million users in a span
of 5 months and the numbers are only increasing with more devices being
supported and more app stores retailing the product.
They recognize
revenues for this segment through a mix of one time license fee / recurring fee
per month, subscription and usage fees (Spokn call minutes and text
messages). The key issue with regards to
the retail market is predominantly
payment mechanisms. And they have aligned
with top payment gateways to extend their reach and ensure they raise
the download to purchase conversion ratio.
The retail segment
during the fiscal FY 11 generated 8% of their total revenues from the above
products.
.fn solutions and
web services to large Media, Broking and
Financial Institutions:
Their .fn suite of
financial products is designed to
provide seamless, smart analytics interfaces between Financial Service
Providers and their ever-demanding customer base. These intuitive products are
designed to encourage analysis by using advanced statistical engines and
captivating user interfaces. Their state-of-theart financial solutions and
powerful Analytics Frameworks help to create custom bespoke offerings that are
both, value-rich and competitive. Their elite clientele comprises major
Financial Institutions, Banks, Broking Houses, Mutual Funds and Life Insurance
companies.
Their .fn products
include Wallet Wap, Wealth Console and
WIT, a content analytics and management tool. These applications in general
provide multidimensional portfolio analysis to enterprises and consumers on
their desktops and phones. Performance across multiple time frames, asset
allocation, tax implications and many more features are included. It also
includes investment advice and customer communication within the application.
Their .fn technology
is being used by top three online trading portals in India besides several
broking and media houses. They derive revenues from product license fee,
transaction fee and customization services. They see tremendous potential with
the .fn product line in the financial services industry. The enterprise segment
during the fiscal FY 11 generated 10.4% of their total revenues from the above
products and .fn solutions. Electronic Computing to Government Agencies,
Financial Institutions, Healthcare Agencies, System Integrators and Value Added
Resellers.
GeoAmida is not just
a device but it is a suite of E-governance, Financial and Healthcare solutions.
With its rich experience in developing versatile and powerful collaboration
platforms, they have created a last mile solution to enable governments and
enterprises to reach out to their remote consumers. GeoAmida - world’s first
biometric and smart card enabled, integrated remote computing and transaction
platform, running on Linux is created to serve this purpose. GeoAmida is an
‘innovation suite’ designed with highly functional stateof- the-art design, a
fully-developed GeoAmida Alchemy SDK, and the openness of underlying Linux OS,
to give enterprises and consumers the Perfect Last Mile Solution to reach the
unreached.
GeoAmida has been
successfully sold to System Integrators, State and Central Government agencies,
Banks and Financial Institutions, Enterprises for supply chain management etc.
GeoAmida is fully compliant with Adhaar (UID specification). They have been
extremely successful in providing GeoAmdia-based solutions to a diverse market
segment and reorienting the device to suit the needs of multiple industries.
The Government of
India has launched several initiatives to mainstream the marginilized sections
of the country. A last-mile connectivity device such as GeoAmida is an integral
part of these initiatives. Geodesic estimates a requirement for more than 4
million devices across Rural Employment Guarantee Act, Public Distribution
System, Education, Financial Inclusion and Micro Finance, Healthcare, Census, etc., in the next three
years.
They recognize
revenues from the sale of the devices including software and customised
solutions they package along with the device. A support fee post the warranty
period is also part of revenue recognition.
The Electronic
Computing business along with software solutions and customization accounted
for 15% of their total revenues from the above products.
Chandamama – a prestigious
children’s magazine they acquired, has increased its subscription base three
fold across multiple languages and regions. Chandamama content is in the
process of being digitized and mobilized
to ensure Chandamama is a big part of the new media space. Chandamama
has entered into agreements with top media houses to jointly convert the
magazines into animation for movies, series and mobile episodes.
Chandamama is in
the process of internationalizing its content and plans to deliver this content
over the electronic medium including mobile phones and tablets. They have
remodeled their offline distribution channels to maximize its reach besides
actively promoting Chandamama products on online stores and www.
chandamama.com
Chandamama during
the last fiscal, ported a downloadable application that pushes new content to
Chandamama subscribers. The application can be downloaded from the Chandamama
site. It has been downloaded in over 78 countries.
They attribute
Chandamama revenues to subscriptions, sale of magazines and content licensing.
Chandamama, during the fiscal FY11, generated 0.2% of their total revenues.
A strong and
conservative treasury management policy led to Geodesic earning 1.4% of their
total revenues during this period.
FINANCIAL HIGHLIGHTS FY2011
Revenues: They grossed
revenues of Rs.8879.300 Millions in FY
2011, an increase of 37% as against Rs.6500.500 Millions in FY 2010.
Net Profit: Net Profit after
Exceptional Income of Rs.2737.200 Millions in FY 2011 as against Net Profit of
Rs.2237.000 Millions in FY 2010 resulted primarily from growth in addressing
newer segments, deepening existing institutional relationships, expanding their
institutional and retail product line, signing up with more system integrators
and increasing their user base across the retail segment.
Earning Per Share:
Their
EPS for FY 2011, stands at Rs.30.06 as compared to Rs.24.25 in FY 2010.
Dividend: Due to their
strong commitment of rewarding shareholders, improved earnings and market
outlook as well as their strong financial position and cash generating
capabilities, they are glad to recommend a payment of final dividend @ Rs.1.40
per share. They had declared an Interim Dividend of Rs.1.35 per share of face
value of Rs.2/- on 11th February, 2011 which was duly paid on 4th
March, 2011.
Buyback of Equity
Shares: They completed the Buy Back plan and their Company bought back
21,05,000/- Equity shares aggregating to Rs.207.078 Millions which is within
the limits specified.
FCCB Issue: They had issued
US$125 million unsubordinated, unsecured Foreign Currency Zero Coupon
Convertible Bonds due 2013 (the “Bonds”). The Bonds are listed on the official
list of the Singapore Exchange Securities Trading Ltd (SGX-ST) (the “Singapore
Stock Exchange”). They have repurchased US$ 11.5 million face value of FCCB,
listed on the Singapore Stock Exchange, in accordance with the A.P. (DIR
Series) Circular No. 39 dated 8th December, 2008 (the “Circular”) issued by the
Reserve Bank of India. As on date of this report Bonds with the nominal value of
US$ 113.5 million are outstanding.
|
STATEMENT
OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND 12 MONTHS ENDED 31ST
MARCH, 2012 |
||||
|
Particulars |
Quarter Ended |
Twelve Months Ended |
||
|
31.03.2012 |
31.12.2011 |
31.03.2012 |
||
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
PART I |
|
|
|
|
1 |
Income from operations |
|
|
|
|
|
(a) Net
sales/income from operations (Net of excise duty) |
1711.924 |
1778.467 |
7174.3.13 |
|
|
(b) Other
operating income |
0.016 |
0.012 |
.4.57 |
|
|
Total income from operations (net) |
1711.940 |
1778.479 |
7174.7.70 |
|
|
|
|
|
|
|
2 |
Expenses |
|
|
|
|
|
(a) Software
Development expenses |
672.177 |
650.221 |
2952.755 |
|
|
(b) Purchases |
13.214 |
12.706 |
213.146 |
|
|
(c) Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
30.752 |
-19.339 |
-70.297 |
|
|
(d) Employee
benefits expense |
75.205 |
68.239 |
298.075 |
|
|
(e) Depreciation
and amortisation expense |
271.739 |
78.488 |
591.1.93 |
|
|
(f) Marketing
expense |
2.217 |
2.318 |
11.501 |
|
|
(g) Exchange loss
/ (profit) on forward contracts |
-310.006 |
508.305 |
348.743 |
|
|
(h) (Profit) /
Loss due to exchange fluctuation |
-2.374 |
-148.523 |
-172.883 |
|
|
(i) Other expenses |
464.010 |
38.364 |
586.571 |
|
|
Total expenditure |
1216.934 |
1190.779 |
4758.804 |
|
3 |
Profit / (Loss) from operations before other income,
finance costs and exceptional items (1-2) |
495.006 |
587.700 |
2415.966 |
|
4 |
Other income |
10.185 |
33.080 |
84.311 |
|
5 |
Profit / (Loss) from ordinary activities before finance
costs and exceptional items (3 + 4) |
505.191 |
620.780 |
2500.277 |
|
6 |
Finance costs |
125.254 |
115.144 |
447.419 |
|
7 |
Profit / (Loss) from ordinary activities after finance
costs but before exceptional items (5 + 6) |
379.937 |
505.636 |
2052.858 |
|
8 |
Exceptional items |
- |
- |
0.019 |
|
9 |
Profit / (Loss) from ordinary activities before tax (7 +
8) |
379.937 |
505.636 |
2052.839 |
|
10 |
Tax expense |
76.000 |
101.200 |
428.973 |
|
11 |
Net Profit / (Loss) from ordinary activities after tax (9
+ 10) |
303.937 |
404.436 |
1623.866 |
|
12 |
Extraordinary
items |
- |
- |
- |
|
13 |
Net Profit / (Loss) for the period (11 + 12) |
303.937 |
404.436 |
1623.866 |
|
14 |
Paid-up equity
share capital (Face Value Rs.2/- each) |
180.283 |
180.283 |
180.283 |
|
15 |
Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i |
Earnings per share (before extraordinary items) (of ? 2/- each) (not annualised): |
|
|
|
|
|
(a) Basic |
3.37 |
4.49 |
18.01 |
|
|
(b) Diluted |
3.37 |
4.48 |
17.99 |
|
16.ii |
Earnings per share (after extraordinary items) (of ? 2/- each) (not annualised): |
|
|
|
|
|
(a) Basic |
3.37 |
4.49 |
18.01 |
|
|
(b) Diluted |
3.37 |
4.48 |
17.99 |
|
|
|
|
|
|
|
|
PART II |
|
|
|
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1 |
Public shareholding |
|
|
|
|
|
- Number of shares |
6,75,10,584 |
6,75,10,584 |
6,75,10,584 |
|
|
- Percentage of
shareholding |
74.89 |
74.89 |
74.89 |
|
|
|
|
|
|
|
2 |
Promoters and Promoter Group Shareholding |
|
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
|
- Number of shares |
1,25,90,000 |
68,70,000 |
1,25,90,000 |
|
|
- Percentage of
shareholding (as a % of the total shareholding of promoter and promoter
group) |
55.63 |
30.36 |
55.63 |
|
|
- Percentage of shares
(as a % of the total share capital of the company) |
13.97 |
7.62 |
13.97 |
|
|
|
|
|
|
|
|
b) Non - encumbered |
|
|
|
|
|
- Number of shares |
1,00,40,765 |
1,57,60,765 |
1,00,40,765 |
|
|
- Percentage of shares
(as a % of the total shareholding of the Promoter and Promoter group) |
44.37 |
69.64 |
44.37 |
|
|
- Percentage of
shares (as a % of the total share capital of the company) |
11.14 |
17.49 |
11.14 |
Notes:
1. The above unaudited results for the quarter
ended 31st March, 2012 were reviewed by the Audit Committee and were adopted by
the Board of Directors at their meeting held on 9th May, 2012.
2. The unaudited results for the quarter ended
31st March, 2012 of the Company on standalone basis, have been subjected to a
limited review by the statutory auditors of the Company.
3. The Board of Directors of the Company had
passed a circular resolution for the change of Financial Year. Accordingly, the Current Financial Year
of the Company would be of 15 months from 1st April, 2011 till 30th June, 2012
and the subsequent Financial Years of the Company will be from 1st July to 30th
June respectively.
4. Geodesic launched BBeep - a secure,
cross-platform mobile messenger for iPhone, Android and Java phones. BBeep now
covers more than 80 smart phone models. BBeep allows users to exchange messages
with their phone contacts and make free voice calls.
5. Geodesic launched an advanced version of
Enlyte Note - collaborative notes application for the iPad with additional
collaborative feature which enables desktop sharing and real time broadcasting
wherein users can share notes or files in real time.
6. CUSTOMERS AND PARTNERS
• Mundu TV, a live internet television
service, was integrated with the Omnesys trading platform ‘Nest Plus’ to
provide stock and communities traders India’s top 5 business TV channels as
part of the trading terminal application.
• Geodesic signed an agreement with Huawei - a
leading global ICT solutions provider to preload Mundu TV on Data Cards that
connect to Desktops.
• Geodesic launched financial applications for
NDTV Pofit, a leading media house to provide users with real time information
on world financial markets. The application has been launched on iOS (iPhone
& iPad) and Android platforms.
• Geodesic signed an agreement to build a
Mobile Portal for Religare Securities and extended its financial solution
&services by developing an end-to-end online broking platform for Religare
(Australia).
7. Geodesic signed agreements to deploy GeoAmida across multiple
segments and projects:
• M-Cash, subsidiary of the multinational
group MobiCash Africa to roll out a large rural financial service network in
Uganda. M-Cash Uganda and Housing Finance Bank (HFB) is a joint venture that is
seeking to introduce a virtual Bank account scheme that enables customers to
send money within Uganda.
• Airtel, No.1 network provider for an
e-Challan project for the Delhi Traffic Police. Delhi traffic police will use
GeoAmida devices to issue e-challans and fines for traffic offences on the
spot.
• Tata Consultancy Services and HCL, IT Giants
to roll out their financial inclusion projects with various banks.
• State bank of Bikaner & Jaipur (SBBJ) to
facilitate procurement of GeoAmida handheld terminals for implementation of
SBBJ’s financial inclusion project in Rajasthan.
• State Bank of Patiala (SBP) for
implementation of SBP’s financial inclusion project in Rajasthan.
• In addition, Geodesic will be executing
other pilots with banks for implementing AEPS system and other upcoming
opportunities.
• MphasiS, a unit of Hewlett-Packard Co., an
information technology services company based in Bangalore, to roll out their
financial inclusion projects on GeoAmida with various banks.
• In addition, Geodesic will be executing
other pilots with banks for implementing AEPS system and other upcoming
opportunities
8. Other expenses include provisioning of
receivables and impairment of investments in Chandamama
India Limited.
9. Due to change in technology, the earlier
version of video has been amortised.
10. Previous period figures have been
regrouped and reclassified wherever necessary.
11. As per the revised guidelines from SEBI
dated July 10, 2007, the Company is submitting both the consolidated and
standalone results, but will be publishing only consolidated results. The
consolidated results along with stand alone results will be displayed on the
Company’s website www.geodesic.com.
12. The above results are standalone and
consolidated figures with all subsidiaries of Geodesic are presented
separately.
13. There are no primary reportable segments
in the period as per AS-17.
14. The status of investor grievances for the
quarter ended 31st March, 2012:
|
Particulars |
3 months ended 31.03.2012 |
|
Pending at the beginning of the quarter |
NIL |
|
Received during the quarter |
4 |
|
Disposed of during the quarter |
4 |
|
Remaining unresolved at the end of the quarter |
NIL |
FIXED ASSETS:
- Plant and machinery
- Computers
- Vehicles
- Leasehold improvements
- Furniture and fixtures
- Office equipment
- Internally generated software
- Testing and tooling software
- Other software
AS PER WEBSITE DETAILS
OVERVIEW
Ideas to Innovation
Origin
Eleven years ago, when the world expected Indian technology companies to simply take the easy back-end, back-office services route, we set the trend and built India’s first product company. We created our very first product: Mundu IM – a Messenger that worked seamlessly across multiple services.
Evolution
The success of Mundu IM catapulted a small ten member garage operation in Mumbai into a public limited company with 700 employees and 6 subsidiaries in 14 offices across the globe. Listed on the BSE and the NSE, we earned revenues of Rs 874 crore and net profit of Rs. 344 crore during FY 2011 (unaudited). Geodesic has been constantly recognized as a Fast 50/500 company in India/Asia consecutively for the last five years and Forbes top 200 companies under a Billion dollar.
Offerings
Geodesic expanded its product portfolio to include products in the space of Unified Communication and Collaboration, Multimedia Content Delivery across Internet connected devices, Financial Products and Mobile Computing. Geodesic solutions are simple, easy to use, and are cost effective on the web, desktop and mobile platforms.
Flexible and scalable, Geodesic products and solutions address both the retail and the enterprise segments. This flexibility has helped Geodesic reorient its products to address a diverse market and build meaningful partnerships with Telecom Network Operators, Internet Service Providers and Handset vendors across countries.
A Global Entity
Geodesic, in its quest to grow, add value to its customers and evolve, acquired synergistic companies in the areas of Mobile Computing, Communication and Collaboration around the world. These acquisitions helped Geodesic expand its product portfolio and its customer base besides expanding into various geographies.
Geodesic markets its solutions to Telecom Operators, Internet Service Providers, Hand held device manufacturers, Government Agencies, Financial Institutions, Banks and Broking houses, Large/ Small and Medium Enterprises and retail consumers around the world. Apart from being present in India, Geodesic is strongly entrenched in Europe, Asia and the US. Geodesic has now expanded its operations into the untapped and lucrative South American and African markets.
Milestones
Over the years we have understood how valuable our commitment to innovation has
been in the growth of the company. It is clearly visible in the range of the
products we have developed, and the milestones they have achieved in a short
time.
Geodesic's efforts have been recognized and rewarded around the world. We have won several awards for our products:
· Mundu IM was rated as one of the top 10 mobile applications in the world by PC Magazine.
· Mundu Radio was recognized as one of the top 12 mobile applications by c|net.
· Mundu IM for Android was awarded the best mobile internet service by GSM Asia.
·
Mundu TV perhaps,
is the only Indian application to be listed as the # 1 app on the Apple App store
(
· Mundu TV is rated as the one of the top applications on Nokia's Ovi Store.
· GeoAmida won the prestigious "Nasscom Social Honors Award" for the year 2010
The road ahead...
With so many accolades for our products over time, our determination has grown. Geodesic is now even more resolute in creating and following through ideas that will change our world, one product at a time.
PRESS RELEASE:
Omnesys announces strategic partnership with Geodesic
14th May 2012
Bangalore, May 14, 2012: Omnesys Technologies, a leading
provider of multi-asset trading software and systems has announced strategic
partnership with Geodesic Limited, a products and solutions provider for
Content, Communication, Collaboration and Electronic Computing to various
market segments.
Geodesic’s Mundu TV, a live internet
television service, would be integrated with the Omnesys trading platform ‘Nest
Plus’ for providing India’s top 5 business TV channels to Indian Stock traders
using ‘Nest Plus’ within their trading terminals. The five business TV channels
are CNBC TV18, CNBC Awaaz, ET Now, UTV Bloomberg and NDTV Profit.
Geodesic’s Mundu TV is a
professionally-managed content delivery service which aggregates and delivers
live and archived television, premium, prime-time video programming and movies
from top content providers and owners worldwide.
‘Omnesys Nest Plus’ is the premium version of
‘Omnesys NEST’ with a lot of additional features. Omnesys’ trading system
‘OMNESYS NEST’ is used by top institutions to access various stock and commodity
exchanges. OMNESYS provides market data and connectivity solutions to both
buy-side and sell-side firms. The trading system is available either as a
broker hosted solution or a ‘Software as a Service’ (SaS) solution. Using Nest
Plus, the trader can subscribe to variety of value added services, technical
calls, charts, news, TV and broker calls on the trading terminal itself
and then use this information to make
informed trading decisions.
Shrikant Pandit, Managing Director, Omnesys said, “We are extremely pleased to partner with Geodesic to provide value
added features to our customers. Stock market traders who trade on news and
company related information need access to TV news during trading. They also
listen to TV commentaries and make their decisions. We have now integrated
Mundu TV with the Omnesys trading terminal, so that the trader can listen to
their channel of choice on their trading desk itself and then trade”.
“Geodesic has always remained in forefront of
innovation. Our partnership with Omnesys created another opportunity to
innovate, thus integrating our Mundu TV product with the NEST Trader Plus
platform. The top 5 business news channels deliver the live news context for
trading to the trader without having to get out of the trading environment. We
strongly believe that it will emerge as the most value adding extension to the
NEST Plus trader in a short period of time”, said Sanjay Sarkar, President -
Financial Solutions, Geodesic Limited.
About Geodesic:
Geodesic Limited is an innovator of
software products focused in the areas of Content Management, Unified
Communication, CRM and Collaboration Solutions for the enterprise and the
retail segments. Geodesic products include Mundu Radio, Mundu TV, Mundu IM and
SMS, BBeep, Spokn, Continuum and Spyder. Headquartered in Mumbai, India.
Geodesic offers its solutions across smart phones, tablets and desktop
computers. Geodesic has successfully launched e-governance solutions using
GeoAmida – a handheld terminal used largely for Financial Inclusion, Public
Distribution Systems, NREGA and Law Enforcement. The Fn Division of Geodesic
specialises in offering innovation driven products and solutions for the
financial services industry including Broking, Banking and Insurance.
The company is listed on the National Stock
Exchange and the Bombay Stock Exchange in India. Geodesic has offices in
Mumbai, Bangalore, Chennai and Hyderabad in India, USA, Uruguay, UK, UAE, Hong
Kong and Mauritius.
About Omnesys:
Omnesys Technologies Private Limited is a
leading provider of Order Management Systems and an Algorithmic trading
platform provider. Omnesys products are used extensively by institutions,
exchanges, brokers, traders and prop trading desks all over the world. As a
leading low latency, high frequency trading platform Omnesys NEST provides
significant liquidity, market making opportunities and arbitrage opportunities
across various asset classes and in multiple venues.www.omnesysindia.com
OMNESYS head office is based in Bangalore,
India. It also has offices in Mumbai, New Delhi, Kolkata and Mangalore.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
|
1 |
Rs.88.45 |
|
Euro |
1 |
Rs.71.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
69 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.